WORLD AIR HOLDINGS TO LEASE BOEING 747-400 FREIGHTERS
Deliveries to begin in 2008
PEACHTREE CITY, Ga. (Dec. 12, 2005) – World Air Holdings, Inc. (NASDAQ: WLDAE), parent company of World Airways and North American Airlines, today announced it has signed a letter of intent to lease three Boeing 747-400 Special Freighter aircraft, contingent upon approval by the lessor’s board of directors. The aircraft will be converted from passenger configuration to freighters prior to delivery, with the first aircraft scheduled to be delivered in June of 2008. Additional deliveries are planned in November 2008 and May 2009.
“This is a significant milestone for our company, as we have been looking for some time to expand our product offering in the growing air cargo market,†said Jeff MacKinney, World Air Holdings president. “We believe the 747-400 freighter is, and will continue to be, a vital component of the international air freight market, particularly to and from markets in Asia. These aircraft will allow us to continue to build our ACMI cargo business, where we have seen solid growth and new long-term contracts with our existing MD-11 freighter fleet.â€
The three 747-400SF aircraft, to be leased under seven-year terms, were formerly operated by United Airlines as passenger aircraft. World Air Holdings has three wholly owned subsidiaries, World Airways, Inc., North American Airlines, Inc., and World Risk Solutions, Ltd. World Airways is a charter passenger and cargo airline founded in 1948, North American is a charter passenger airline founded in 1989, and World Risk Solutions is an insurance subsidiary established in 2004. For additional information, visit www.worldairholdings.com
Have you guys at United heard anything on this?
Thanks
Deliveries to begin in 2008
PEACHTREE CITY, Ga. (Dec. 12, 2005) – World Air Holdings, Inc. (NASDAQ: WLDAE), parent company of World Airways and North American Airlines, today announced it has signed a letter of intent to lease three Boeing 747-400 Special Freighter aircraft, contingent upon approval by the lessor’s board of directors. The aircraft will be converted from passenger configuration to freighters prior to delivery, with the first aircraft scheduled to be delivered in June of 2008. Additional deliveries are planned in November 2008 and May 2009.
“This is a significant milestone for our company, as we have been looking for some time to expand our product offering in the growing air cargo market,†said Jeff MacKinney, World Air Holdings president. “We believe the 747-400 freighter is, and will continue to be, a vital component of the international air freight market, particularly to and from markets in Asia. These aircraft will allow us to continue to build our ACMI cargo business, where we have seen solid growth and new long-term contracts with our existing MD-11 freighter fleet.â€
The three 747-400SF aircraft, to be leased under seven-year terms, were formerly operated by United Airlines as passenger aircraft. World Air Holdings has three wholly owned subsidiaries, World Airways, Inc., North American Airlines, Inc., and World Risk Solutions, Ltd. World Airways is a charter passenger and cargo airline founded in 1948, North American is a charter passenger airline founded in 1989, and World Risk Solutions is an insurance subsidiary established in 2004. For additional information, visit www.worldairholdings.com
Have you guys at United heard anything on this?
Thanks
